Brokerages Set Astera Labs, Inc. (NASDAQ:ALAB) Target Price at $112.77

Astera Labs, Inc. (NASDAQ:ALAB) has earned a consensus rating of “Buy” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $112.77.

Several research analysts recently commented on ALAB shares. Raymond James assumed coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 price target on the stock. Barclays raised their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 63,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the transaction, the director now directly owns 444,863 shares of the company’s stock, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares of the company’s stock, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 633,990 shares of company stock valued at $54,235,012.

Institutional Trading of Astera Labs

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. grew its position in Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after purchasing an additional 3,760,765 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after buying an additional 792,153 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after buying an additional 1,384,498 shares during the period. Finally, Jennison Associates LLC purchased a new stake in shares of Astera Labs in the fourth quarter worth about $229,991,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

Shares of ALAB stock opened at $52.94 on Monday. The stock has a fifty day simple moving average of $78.49 and a two-hundred day simple moving average of $90.43. The firm has a market capitalization of $8.58 billion and a PE ratio of -30.60. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, sell-side analysts forecast that Astera Labs will post 0.34 EPS for the current fiscal year.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.